LAHORE, Feb 3: Advocate M.D. Tahir on Thursday moved the Lahore High Court against the latest increase in the prices of petroleum, diesel and kerosene oil, contending that the arbitrary raise had added to the economic sufferings of the people.

Pleading that the price hike be declared illegal and against the interest of the people, the lawyer submitted through a writ petition that the Oil Companies Advisory Committee had not invited objections before revising the prices upward, which was mandatory.

The lawyer-petitioner submitted that the increase in oil rates had been done at a time when prices of petroleum products in the international market had witnessed a decline.

He said a major cause of the increase was that the government had sold 11 oil fields to multinational companies for a paltry $180 million about two years ago. The loss of the units, which catered around 75 per cent of the domestic oil consumption, was a conspiracy hatched under the IMF and World Bank dictates, he submitted.

As a result, he stated there was a shortfall in the national oil reserves and the government had to purchase oil from the multinational companies at a higher price.

The petitioner also submitted that traders from Balochistan had time and again offered the government that they would be in a position to supply oil at cheaper prices if they were allowed to import petroleum products. This offer was yet to be considered, he added.

Advocate Tahir also submitted that the oil prices had a major impact on the national economy and the worst sufferers were the people many of whom were committing suicide or selling their kidneys to keep the body and soul together.